HIGHER EDUCATION BUBBLE UPDATE, TAXES-ARE-FOR-THE-LITTLE-PEOPLE EDITION: NY Times: Columbia, Dartmouth, Duke, Stanford, Texas & USC Are Among Colleges Using ‘Blocker Corporations’ To Avoid Taxes On Endowment Income. “Establishing another corporate layer between private equity funds and endowments effectively blocks any taxable income from flowing to the endowments, the reason they are called blocker corporations. The tax is instead owed by the corporations, which are established in no-tax or low-tax jurisdictions like the Cayman Islands or the British Virgin Islands.”

Related: The Ivory Tower Tax Haven.